Endemic to Sydney, Australia, the Red Belly Blockchain builds upon cutting edge consensus research to preserve integrity world wide regardless of failures and attacks.
The expertise of the Concurrent Systems Research Group is in the theory and practice of distributed computing. With many years of experience, the group members have defined a new problem, called the Blockchain Consensus with French and Spanish researchers.
The Red Belly Blockchain offers unprecedented throughput of more than 600 thousands transactions per second (an order of magnitude faster than Visa). Its safety aspect is of invaluable importance for critical industries, like banking, and offers performance that scales horizontally.
Our researchers in collaboration with Data61-CSIRO, demonstrated the limitations of forkable blockchains (like Bitcoin and Ethereum) and how one can issue a Balance Attack to double spend, which consists of stealing assets from the blockchain.
The Red Belly Blockchain enforces integrity initially rather than recovering from inconsistencies, hence avoiding double spending.
The list of participants is adjusted as necessary on the fly, hence bridging the gap between public and private blockchains.
Allocating permissions has never been simpler. Restrict the visibility, allow members to update, or offer your blockchain to the Internet.